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AMP Futures / AMP Global Review

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  #501 (permalink)
Toronto Canada
 
 
Posts: 41 since May 2020




mattz View Post

When you place a price of -1.00 as his demo indicates while the market is 16, it would be out of Exchange daily limits whether live or demo.
His demo simply telling the rules of the exchange - not rejecting it because the order is price negative.

Sorry if I hurt you, it was not intentional! I guess it's just that I deal with facts and I deal with regulations all the time in my business. The public has expectations of me to be honest, fair and to not disseminate any information that is not factual. If I don't have all the facts then I need to be clear about that and not try to pass myself off as having full knowledge about a particular subject if I don't. I mean no disrespect, honestly, I guess I'm just holding you up to a higher standard! I will do my best to be less assertive in the future!

Once again though, I have to completely disagree with your take on this. To prove the point I have gone out of my way to show more proof of the problems that existed then and still exist now. What you will now see below is CURRENT screenshots, taken over a month after "the incident" via CQG desktop. What you see here is a resting limit order to buy at 0.01, A rejected order to buy at -0.01 and another order on TWS platform to buy at -1.00 when the market price is in the $35 range.

I think the evidence speaks for itself!!!

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  #502 (permalink)
Site Moderator
Sarasota FL
 
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mattz View Post
If you recall the Flash Crash of 2010, thee Bid-Ask was 12 points ($600), not the typical one tick you see.
I saw the same type of behavior on the ES Options during the meltdown of 2018.

My point is not to absolve brokers or FCM from their fiduciary duty. We have our roles, and we must comply with regulations and rules pertaining to us. However, Futures as an asset class can behave beyond the scope and control of the broker and the technology they carry. As an asset class, you are trading high leverage, global markets that go at times into harsh trading environments where you could potentially lose way beyond your initial investment. "Normal times" with less volatility make us at times "relaxed" about the asset class we trade. This year was a sober reminder of what happens when a global event shakes the market and how the Futures market behaves.

I do remember the Flash Crash of 2010. I got my head handed to me then, trying to buy some index puts, for crying out loud, to make some money on the decline, and getting filled way, way above the price I had put in the market order for, in a market that was now insanely rising, as price hit bottom and bounced up insanely, and all technology basically froze -- instant big loss, even though I was completely right about "the market" at the time I pressed the button.

What it showed me is that the perfect world that is now seen in sim trading doesn't exist. At the time, it was the perfect world of my conception of the market -- always orderly, always (smile) rational, working exactly like our static, after-the-fact charts looked. Never simply insane.

-----------------

Does this mean that no broker is at fault about the CL mess? No. I don't know who is at fault, but what has come out so far does not look so nice for at least some of the brokerage community, and/or other parts of the infrastructure.

And if negative prices were technically possible, then the technology should had allowed for it. Obviously.

More will come out, but the thing I learned in the original Flash Crash (this was the first of several) is that not one single thing in the market "has to" happen in any particular way. Any broker or any other part of the infrastructure that failed in its job -- which is basically to keep the market orderly -- needs to be called out. It seems that some may have been seriously at fault on the simple and basic question of whether something that could happen (negative prices) can happen for their software. Some may be at fault on the equally simple and basic question of whether they owe their customers an honest dealing (yes, they do.)

But nothing "has to" happen in the markets the way it's anticipated, and that is also part of the reality of trading.

Bob.

-------------

Edit: I see I was typing right while things started up again in the thread but I didn't see them. I'll shut up now. Sorry, folks.

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  #503 (permalink)
Toronto Canada
 
 
Posts: 41 since May 2020


bobwest View Post
Does this mean that no broker is at fault about the CL mess? No. I don't know who is at fault, but what has come out so far does not look so nice for at least some of the brokerage community, and/or other parts of the infrastructure.

And if negative prices were technically possible, then the technology should had allowed for it. Obviously.

There are many dimensions to this entire fiasco, which makes it easy to point culp-ability in various directions by just about anybody. Considering what I already know and who I know, I really could say a lot more... my evidence goes much deeper than I ever plan on providing here in public.

Regardless ... somethings I can share, which quite frankly, are all publicly available pieces of evidence, and which the CFTC is already aware of. So for now I'll conclude with my final exhibit on this and knowing what I've already shown here, on Sunday - May 10, 2020 AMP issued the following news release in which they state:

"From what we experienced, when Crude Oil (CL) May 2020 Contract - Traded Negative for the 1st time in History...that the market conditions are not normal once prices traded negative. The orders we researched for our customers, were either REJECTED by CME due to Velocity Logic Circuit Breaker or were REJECTED due to not safe market conditions > NO BID - NO OFFER."

https://news.ampfutures.com/temporary-margins-increase-energies-complex-april-2020

What more can I say that doesn't speak for itself. AMP trying to place blame on CME for something they will never be able to prove is completely wreck-less! I've been trying orders ever since 4/20, I tried limits, stops, 0 and negatives. Actually the 0 gives different outcome and changing/replacing or submitting new orders can give slightly different reject message. Nonetheless, negatives never work. I was quite surprised to try it again tonight and see the same old reject code! I've had friends try it as well, it's always the same result!

If anybody here has been damaged by this event please PM me, I will require you to prove to me you have losses before I tell you anything more about getting restitution. You aren't alone in this matter and you don't have to go about it by yourself. I don't particularly plan on continuing with this topic unless anyone wants to ask anything specific from me, I'll do my best to respond.

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  #504 (permalink)
Langley
 
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RT777 View Post
There are many dimensions to this entire fiasco, which makes it easy to point culp-ability in various directions by just about anybody. Considering what I already know and who I know, I really could say a lot more... my evidence goes much deeper than I ever plan on providing here in public.

Regardless ... somethings I can share, which quite frankly, are all publicly available pieces of evidence, and which the CFTC is already aware of. So for now I'll conclude with my final exhibit on this and knowing what I've already shown here, on Sunday - May 10, 2020 AMP issued the following news release in which they state:

"From what we experienced, when Crude Oil (CL) May 2020 Contract - Traded Negative for the 1st time in History...that the market conditions are not normal once prices traded negative. The orders we researched for our customers, were either REJECTED by CME due to Velocity Logic Circuit Breaker or were REJECTED due to not safe market conditions > NO BID - NO OFFER."

https://news.ampfutures.com/temporary-margins-increase-energies-complex-april-2020

What more can I say that doesn't speak for itself. AMP trying to place blame on CME for something they will never be able to prove is completely wreck-less! I've been trying orders ever since 4/20, I tried limits, stops, 0 and negatives. Actually the 0 gives different outcome and changing/replacing or submitting new orders can give slightly different reject message. Nonetheless, negatives never work. I was quite surprised to try it again tonight and see the same old reject code! I've had friends try it as well, it's always the same result!

If anybody here has been damaged by this event please PM me, I will require you to prove to me you have losses before I tell you anything more about getting restitution. You aren't alone in this matter and you don't have to go about it by yourself. I don't particularly plan on continuing with this topic unless anyone wants to ask anything specific from me, I'll do my best to respond.

I am not here to put in an new information as I am quite ignorant on this particular subject but what I will say is ANYTHING can and will happen and you HAVE to know no one will protect you.

I've said this before and I don't believe I'm being cynical... business are out to make profits and protect their OWN interests. If those interests aligned wth YOUR interests great if not... LOOK OUT!

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  #505 (permalink)
Toronto Canada
 
 
Posts: 41 since May 2020


Sandpaddict View Post
I am not here to put in an new information as I am quite ignorant on this particular subject but what I will say is ANYTHING can and will happen and you HAVE to know no one will protect you.

I've said this before and I don't believe I'm being cynical... business are out to make profits and protect their OWN interests. If those interests aligned wth YOUR interests great if not... LOOK OUT!

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I agree in the general sense, most people and businesses live down to expectations!

However in this case, you can only harass your customers so far before they congregate and fight back!

The good news is, CFTC provides attorney's for free! They can also seek restitution and they CAN PROTECT THE CUSTOMER.

I also happen to believe the recent hoopla surrounding large accounts with AMP is not a coincidence and is very much related to CFTC investigations. In the last 2 weeks we've seen 2 large account holders make noise on other channels. One had an account closed after 4 years. The other had potential bait and switch made on them. If you start to connect the dots you will soon see a common theme to all of this. All these matters have to do with the Risk Management Program, or lack thereof! If people want to believe that AMP is being genuine and acting on customers behalf willingly, I have some swamp land I'd like to sell you!

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  #506 (permalink)
Langley
 
Experience: Intermediate
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RT777 View Post
I agree in the general sense, most people and businesses live down to expectations!

However in this case, you can only harass your customers so far before they congregate and fight back!

The good news is, CFTC provides attorney's for free! They can also seek restitution and they CAN PROTECT THE CUSTOMER.

I also happen to believe the recent hoopla surrounding large accounts with AMP is not a coincidence and is very much related to CFTC investigations. In the last 2 weeks we've seen 2 large account holders make noise on other channels. One had an account closed after 4 years. The other had potential bait and switch made on them. If you start to connect the dots you will soon see a common theme to all of this. All these matters have to do with the Risk Management Program, or lack thereof! If people want to believe that AMP is being genuine and acting on customers behalf willingly, I have some swamp land I'd like to sell you!

Agreed! Just waiting for moderators to step in but I hope they don't as this is a wake up call to anyone thinks this kind of stuff can't happen.

Thanks again RT777!

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  #507 (permalink)
Toronto Canada
 
 
Posts: 41 since May 2020


Sandpaddict View Post
Agreed! Just waiting for moderators to step in but I hope they don't as this is a wake up call to anyone thinks this kind of stuff can't happen.

Thanks again RT777!

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Thank you for your support! I know not everyone feels the same way, mostly the uninformed though...

I think the moderators here are interested in real news, which is very refreshing! Given the antics recently witnessed on other channels, the deletion and editing of certain posts and the closure of certain threads. I applaud the mods here for their fairness and for providing a venue to tell both sides of the story.

This is far from over and much more will come to light in the future. In the meantime, we can all witness the ongoing saga of Captain Dan vs the Iceberg (aka CFTC). Had AMP settled fairly with their customers when the customers gave them the chance, the fallout would have been limited. AMP decided to risk it yet again, they decided to go on the offensive to try and bully the customers at the hand of their own negligence. Unfortunately for them that was a bad choice and it will cost them more in the long run.

I wouldn't leave my hard earned savings with this bucket shop! It's only going to get worse for them!

THIS ISN'T GOING AWAY!

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  #508 (permalink)
Langley
 
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RT777 View Post
Thank you for your support! I know not everyone feels the same way, mostly the uninformed though...

I think the moderators here are interested in real news, which is very refreshing! Given the antics recently witnessed on other channels, the deletion and editing of certain posts and the closure of certain threads. I applaud the mods here for their fairness and for providing a venue to tell both sides of the story.

This is far from over and much more will come to light in the future. In the meantime, we can all witness the ongoing saga of Captain Dan vs the Iceberg (aka CFTC). Had AMP settled fairly with their customers when the customers gave them the chance, the fallout would have been limited. AMP decided to risk it yet again, they decided to go on the offensive to try and bully the customers at the hand of their own negligence. Unfortunately for them that was a bad choice and it will cost them more in the long run.

I wouldn't leave my hard earned savings with this bucket shop! It's only going to get worse for them!

THIS ISN'T GOING AWAY!

Yes, the moderators on here are some of the best out there. No question!

And to think we ARE LUCKY.

If this happened 20-30 years ago when transparency wasn't anywhere it is today! Yikes!

Good reporting though RT777!

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  #509 (permalink)
 
 
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bobwest View Post
...................

Does this mean that no broker is at fault about the CL mess? No. I don't know who is at fault, but what has come out so far does not look so nice for at least some of the brokerage community, and/or other parts of the infrastructure.

And if negative prices were technically possible, then the technology should had allowed for it. Obviously.

More will come out, but the thing I learned in the original Flash Crash (this was the first of several) is that not one single thing in the market "has to" happen in any particular way. Any broker or any other part of the infrastructure that failed in its job -- which is basically to keep the market orderly -- needs to be called out. It seems that some may have been seriously at fault on the simple and basic question of whether something that could happen (negative prices) can happen for their software. Some may be at fault on the equally simple and basic question of whether they owe their customers an honest dealing (yes, they do.)

But nothing "has to" happen in the markets the way it's anticipated, and that is also part of the reality of trading.

.......

Here is how I would approach the negative price issue. I would break it into components and see what role each part had in this unprecedented situation. Naturally, when people say "broker," they treat it like a single component, but that is not the case. For example, companies like IB or TD have all in one technology, risk management, and execution(as far as I know). Other FCMs in the industry use ISVs (Independent Software Vendors) to provide the quotes, charts, and order routing. At the same time, the backend on the FCM level offers the risk management system: Margins, positions, etc. ISVs provide a "box" that FCMs need to work with. Some could program on top of it, but for the most part, the ISV risk modules are built-in. The ISVs also deliver the orders to the exchange.

If there is an error delivering an order to the exchange or other malfunction, the ISV and FCM work together to resolve it. Each ISV (I presume) builds an internal code and systems to satisfy exchange conformance as they see fit.

The second component in this scenario would be the exchange. The exchange has its malfunctions; however, I do not have enough expertise to determine how it behaved during negative prices. As far as I recall, I have never seen negative rates on an exchange level, although they do exist at times on cash markets. I'll leave this to the experts who will investigate this. I hope that they will look into the fact that CME released a negative price alert five days before the event, and expected FCMs/ISVs to adjust it over a period that included the weekend during COVID-19.

The third component is the broker/IB/FCM, and how they interacted with all of the above. How they interacted/implemented what they were given is crucial.

Lastly, it's the customer. So when trading Oil contracts that are cash delivered, you have to know the risk of trading the last day of a deliverable contract (as opposed to trading the next month) and the dangers of negative prices.

The last part is the market conditions. The Bid-Offer spreads could be wide, and would not allow a trader to get or a broker to get him/her out.

So all these components will be examined is someone has a dispute. There are many more components like where orders reside when you place them (server or exchange), latency, servers, redundancy, etc. But I think by now you see it is not as easy as just pointing to one party.

Bob, this is my last post concerning this topic. As I said, I come here to help, and while I can address all the issues, I feel it's done in an environment of confirmation bias, and not with an open mind.

Lastly, I am not here to promote Futures trading or defend an FCM, the ISV, or the exchnages. As a broker, I am here to assist those who did decide to enter the Futures industry so they could be informed of the complexity of these products and the high risk of trading these instruments. Futures are not wealth-building instruments, and if someone decides to trade their risk capital (all they should trade), then at the very least read, read, and talk to pros. After many years in the industry, I still consult, read, and make the best efforts to be informed. Despite all our efforts, brokers, FCMS, IBs, exchanges, and regulators could face situations we have never seen before. We all need to cooperate so we can learn even from adverse circumstances. Name-calling, insults, adding "fuel" to the fire, and pitchfork mentality over personal grievances adds very little to the customer's education.

I wish all the players in the harmful oil circumstances the best of luck, and we hope for better days.

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email support@OptimusFutures.com
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  #510 (permalink)
Toronto Canada
 
 
Posts: 41 since May 2020

Is it true the retail guy is always the last to know!?

I got the memo, it's pretty clear what the retail guys were told ...



Do I really need to point a big red arrow to it?!



Did any retail guys get any of those 'other' memo's about negative pricing?

April 3rd CME notified CME Globex and Market Data Customers of “Changes to Price and Strike Price
Eligibility Flags for Certain Energy Products”.
https://www.cmegroup.com/notices/electronic-trading/2020/04/20200403.html

April 8th CME notified Clearing Member Firms of “CME Clearing Plan to Address the Potential of a Negative
Underlying in Certain Energy Options Contracts”.
https://www.cmegroup.com/content/dam/cmegroup/notices/clearing/2020/04/Chadv20-152.pdf

April 15th CME notified Clearing Member Firms of “Testing opportunities in CME’s “New Release”
environment for negative prices and strikes for certain NYMEX energy contracts”.
https://www.cmegroup.com/content/dam/cmegroup/notices/clearing/2020/04/Chadv20-160.pdf

April 20th CME sent an email to market participants stating “The following May 2020 Energy products (CLK0,
HOK0, QHK0, QMK0, QUK0, RBK0, HCLK0, RTK0, WSK0, RLXK0, TCSK0, MPXK0, 23K0, CSXK0, 26K0) have no low
limit and may trade negative."


I was subscribed to receive IMPORTANT messages but somehow never got any of the insider ones ...

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  #511 (permalink)
Toronto Canada
 
 
Posts: 41 since May 2020

Now YOU see it, now YOU don't , bravo!

Did the IT guys get an email or just a wink and a nod to get rid of that pesky column?

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  #512 (permalink)
round rock, tx
 
Experience: Beginner
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I started trading live on Friday, June 26, 2020, with AMP futures. On their commission portal calculator, I was supposed to be charged .78 per trade per contract all in for the MES. I was charged $2.75 per trade per contract, Overcharged $1.97 per contract per trade. I got my daily report Friday at 11:59 pm. The daily report that I received stated, at the bottom of the page, that if I have any issues with the daily report statement to contact them before the beginning of the next trading session. Not exercising my right to have issues corrected before the start of the next session will be deemed acceptance of the daily report. I contacted customer support on Sunday, June 28, 2020, at 16:45, the earliest the office was opened. I also sent multiple emails Saturday and Sunday to the commissions clearing office.

I spoke to a customer service rep, he could not help me and advised me to reach out to the commission statement desk via email. I sent an email to the commission statement desk at 17:00 CST Jun 28, 2020. We will see how long it takes to get my money refunded.

Has anyone else had any issues like this and were they corrected and how long did it take?

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  #513 (permalink)
Market Wizard
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slagzone View Post
I started trading live on Friday, June 26, 2020, with AMP futures. On their commission portal calculator, I was supposed to be charged .78 per trade per contract all in for the MES. I was charged $2.75 per trade per contract, Overcharged $1.97 per contract per trade. I got my daily report Friday at 11:59 pm. The daily report that I received stated, at the bottom of the page, that if I have any issues with the daily report statement to contact them before the beginning of the next trading session. Not exercising my right to have issues corrected before the start of the next session will be deemed acceptance of the daily report. I contacted customer support on Sunday, June 28, 2020, at 16:45, the earliest the office was opened. I also sent multiple emails Saturday and Sunday to the commissions clearing office.

I spoke to a customer service rep, he could not help me and advised me to reach out to the commission statement desk via email. I sent an email to the commission statement desk at 17:00 CST Jun 28, 2020. We will see how long it takes to get my money refunded.

Has anyone else had any issues like this and were they corrected and how long did it take?

From AMP? Really? Surely not?

Okay, I am being factious here. This doesn't surprise me at all. If there was one word to describe and sum up AMP it is this, casual. Professional they are not. Of course this isn't a mistake IMO, I have heard (no evidence) that they do this A LOT with new traders. They just hope that you won't question it.

Of course, that is way too much for the e-micro so you need to get that sorted. Your ALL IN total round turn should be around $1.00 per contract. Don't believe that commission portal calculator that AMP have for a second.

--------------------------------------------------------
- Trade what you see. Invest in what you believe -
--------------------------------------------------------
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  #514 (permalink)
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From AMP? Really? Surely not?

Okay, I am being factious here. This doesn't surprise me at all. If there was one word to describe and sum up AMP it is this, casual. Professional they are not. Of course this isn't a mistake IMO, I have heard (no evidence) that they do this A LOT with new traders. They just hope that you won't question it.

Of course, that is way too much for the e-micro so you need to get that sorted. Your ALL IN total round turn should be around $1.00 per contract. Don't believe that commission portal calculator that AMP have for a second.

For me the calculator works just fine showing exactly the right amount.

There is something about 10 000 customers around the world with AMP so if this would be a common practice why is it so hard to find people complaining it ?

It takes nothing to be a Pig
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  #515 (permalink)
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Thanks for posting this! I just opened an account with them and this week I will be funding it. So after my first trade I'll mention this issue so then I don't have a surprise like you.
Good luck and let us know if they solved it.
slagzone View Post
I started trading live on Friday, June 26, 2020, with AMP futures. On their commission portal calculator, I was supposed to be charged .78 per trade per contract all in for the MES. I was charged $2.75 per trade per contract, Overcharged $1.97 per contract per trade. I got my daily report Friday at 11:59 pm. The daily report that I received stated, at the bottom of the page, that if I have any issues with the daily report statement to contact them before the beginning of the next trading session. Not exercising my right to have issues corrected before the start of the next session will be deemed acceptance of the daily report. I contacted customer support on Sunday, June 28, 2020, at 16:45, the earliest the office was opened. I also sent multiple emails Saturday and Sunday to the commissions clearing office.

I spoke to a customer service rep, he could not help me and advised me to reach out to the commission statement desk via email. I sent an email to the commission statement desk at 17:00 CST Jun 28, 2020. We will see how long it takes to get my money refunded.

Has anyone else had any issues like this and were they corrected and how long did it take?

Sent using the futures.io mobile app

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  #516 (permalink)
round rock, tx
 
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Scalpguy View Post
For me the calculator works just fine showing exactly the right amount.

There is something about 10 000 customers around the world with AMP so if this would be a common practice why is it so hard to find people complaining it ?

It's not the commission calculator, that works fine. It's the daily report you get after you are done trading. The commission calculator quoted me .78 per trade per contract for MES and on my daily report I was charged $2.75 per trade per contract.

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  #517 (permalink)
round rock, tx
 
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arielalejandro View Post
Thanks for posting this! I just opened an account with them and this week I will be funding it. So after my first trade I'll mention this issue so then I don't have a surprise like you.
Good luck and let us know if they solved it.

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Really check that daily report you get at end of the day.

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  #518 (permalink)
Market Wizard
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Scalpguy View Post
For me the calculator works just fine showing exactly the right amount.

There is something about 10 000 customers around the world with AMP so if this would be a common practice why is it so hard to find people complaining it ?

10k customers world wide? Source of that "something" please.

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  #519 (permalink)
United States of America
 
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JonnyBoy View Post
10k customers world wide? Source of that "something" please.

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I could be wrong, but I remember AMP as only having about 144 accounts which seems really low of course.

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  #520 (permalink)
Legendary Market Wizard
Georgia, US
 
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Broker: AMP+CQG
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JonnyBoy View Post
Your ALL IN total round turn should be around $1.00 per contract.

To be explicit -- it depends on the data provider. The cost per R/T for flat-tier pricing is:

0.40 - Exchange
0.04 - NFA
0.10 - clearing
+ either: 0.20 for CQG, 0.50 for Rithmic, 0.60 for TT (+$50/month for TT)

So, on the flat tier it's either $0.74 for CQG, $1.04 for Rithmic, or $1.14 for TT. It's similar on the volume tier, depending on the volume of course, but for most traders here it will be 3-4 cents more per R/T. The point at which volume pricing becomes more advantageous is 8000 R/Ts.

The all-in cost calculator in AMP's site works well except for JPY and HKD based contracts, as it doesn't do the math correctly, FWIW.

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  #521 (permalink)
Prague, Czechia
 
Experience: Intermediate
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Hi futures.io.

I have big problem with withdrawal in AMP, long story short if I won't get my money till this Friday, I will issue a claim to CTFC and SEC.

I submit two withdrawals, one gets released at 6.07.2020 second at 7.07.2020, both of them did not come to my bank account till today.

In meantime something happen and my money goes back to my AMP account but with lower amount ( some money disappear?) around 600eur less.
Bank account everything was exactly same like I deposit, numbers ok etc.

Of course I spend twice 30$ for withdrawal process.

My advice. If you want to focus ON TRADING, not on your broker process, do not choose AMP

I can proof everything by screenshots if someone is interested.

Thnaks

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  #522 (permalink)
Helsinki, Finland
 
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slagzone View Post
It's not the commission calculator, that works fine. It's the daily report you get after you are done trading. The commission calculator quoted me .78 per trade per contract for MES and on my daily report I was charged $2.75 per trade per contract.

This is what I said. When I check my commissions by the calculator it matches the reports and account.

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  #523 (permalink)
Slovakia
 
Experience: Intermediate
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kremat0r View Post
Hi futures.io.

I have big problem with withdrawal in AMP, long story short if I won't get my money till this Friday, I will issue a claim to CTFC.

I submit two withdrawals, one gets released at 6.07.2020 second at 7.07.2020, both of them did not come to my bank account till today.

In meantime something happen and my money goes back to my AMP account but with lower amount ( some money disappear?) around 600eur less.
Bank account everything was exactly same like I deposit, numbers ok etc.

Of course I spend twice 30$ for withdrawal process.

My advice. If you want to focus ON TRADING, not on your broker process, do not choose AMP

I can proof everything by screenshots if someone is interested.

Thnaks

Hi,
still no money on your bank account?
If you withdraw money (USD) 6.7.2020 it may take 1 max 3 working days.

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  #524 (permalink)
Helsinki, Finland
 
Experience: Advanced
Platform: SC and TWS
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Dasani View Post
I could be wrong, but I remember AMP as only having about 144 accounts which seems really low of course.

I don't remember where I read this number (it was an article somewhere in the cyber space) but if you think AMP is full of retail traders and average retail trader account size is for example 5k then their 66M segregated assets gives you something about that level. Several thousand accounts in anyway.

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  #525 (permalink)
Prague, Czechia
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Sierra Data
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Still no money.

No it's EUR, so they are sending from London bank to my bank. In Europe SEPA payments takes maximum 24h, so even if we take 48h it's already to late.

Biggest problem is where disappear my 600EUR and let's wait how they will treat it. Because I already paid for withdrawal, if they will charge me one more time, then they will see real claim



and one more problem all traders knows if you have even small thing disturbing in your head like this, you can loose a lot of money trading without clear minds.
So I'm struggling with them from Tuesday.

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  #526 (permalink)
Helsinki, Finland
 
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kremat0r View Post
Hi futures.io.

I have big problem with withdrawal in AMP, long story short if I won't get my money till this Friday, I will issue a claim to CTFC and SEC.

I submit two withdrawals, one gets released at 6.07.2020 second at 7.07.2020, both of them did not come to my bank account till today.

So you should receive the funds today and tomorrow if you're located in US.


kremat0r View Post
In meantime something happen and my money goes back to my AMP account but with lower amount ( some money disappear?) around 600eur less.
Bank account everything was exactly same like I deposit, numbers ok etc.

If there is an error I am sure they will compensate it for you.

When the issue is resolved please come back and tell us what it was all about.

I have been many times in the situation where I have found some error in their statements and transfers but every time the error has been me. I have understood things wrong or done something wrong so...

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  #527 (permalink)
Prague, Czechia
 
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Scalpguy View Post

When the issue is resolved please come back and tell us what it was all about.

I have been many times in the situation where I have found some error in their statements and transfers but every time the error has been me. I have understood things wrong or done something wrong so...

Yes I will post how it ends.


Scalpguy View Post
So you should receive the funds today and tomorrow if you're located in US.

I wont get it because payment goes back to my AMP account and I get email that I deposit some money which of course didn't happen So in best case I will wait for my money more than a week. Im located in Europe.


In last month I had one problem with statement and now this story with withdrawal in short history with AMP. This thing never happen in IB, where I trade looooonger, never... other story.

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  #528 (permalink)
Helsinki, Finland
 
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kremat0r View Post
Yes I will post how it ends.



I wont get it because payment goes back to my AMP account and I get email that I deposit some money which of course didn't happen So in best case I will wait for my money more than a week. Im located in Europe.


In last month I had one problem with statement and now this story with withdrawal in short history with AMP. This thing never happen in IB, where I trade looooonger, never... other story.

Oh I see. In my case the normal withdrawal time has been 4-6 days. Im located here in Europe too

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  #529 (permalink)
Prague, Czechia
 
Experience: Intermediate
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Really, only thing good in AMP is margin level, but for me I don't need it, I only choose them because of "free" Trading Technologies routing of orders.

Customer support is below zero, they are sending me still only a hyperlink to go somewhere and sometimes I cannot even describe my case, because customer representative will disconnect faster, before I will describe in details my case.

I will choose them only if I will have 1k USD to trade to use their margins, nothing else. I cannot imagine how stress I will be if amount was bigger, but it won't be, after this I won't put there even a single dollar.

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  #530 (permalink)
 
 
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@kremat0r I am happy to report that AMP was able to process your payment manually and you should receive your funds.

AMP processed your account the same day you requested the withdrawal, however, bank to bank communication error resulted in the initial error.
AMP was also kind in not charging you the wire fee again despite the fact that they made no error.

We process daily withdrawals with AMP, and all occur the same day. Optimus responded to your email the same day you wrote to us, and AMP was able to engage and help.

I wish you all the best in your trading career.

Thank you,
Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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  #531 (permalink)
Toronto, Canada
 
Experience: Advanced
Platform: NinjaTrader, MT4
Broker: Amp/CQG, Citibank
Trading: CL, GC, 6E, ES, TF, EURUSD, GBPJPY, AUDUSD
 
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kremat0r View Post
I submit two withdrawals, one gets released at 6.07.2020 second at 7.07.2020, both of them did not come to my bank account till today.

In meantime something happen and my money goes back to my AMP account but with lower amount ( some money disappear?) around 600eur less. ...

Of course I spend twice 30$ for withdrawal process.Thnaks

I'm not sure if you have withdrawn from Amp before, or if this is the first time. FWIW, I have seen it take 3 and 4 days for monies to get from USA/Canada, and get deposited into a European bank account. My guess is there are additional processes and delays on the European side. Some months back, was there not a EU directive that was impacting money wiring?

You said one of the withdrawals went back to Amp, and you got 600 EUR less? I don't want to ask how big the withdrawal was, but is it possible it was somehow due to currency conversion? I am assuming you sent a EURs deposit to fund your trading account, but, usually trading profits are in USD. If you are withdrawing USD, it is usually best to have it wired to a USD currency bank account, so you don't get impacted by the very poor buy rate conversion that banks usually have. Is it possible the 600EUR less is due to the currency conversion that banks do, and if there was a problem, the spread between the buy and sell rate could maybe explain this?

I wire USD from their Harris BMO originating bank, into a Canadian Bank USD account, and beyond the $30 AMP charge, there is also either a $10 USD (or $18 USD?) amount that I believe my receiving bank takes.

FWIW I have been with Amp for 10+ years, and not had a withdrawal problem, other than bank holidays here in Canada, and thus having to wait longer. As an example, if I get a wire request in by 1pm EST, it is almost always in my Canadian bank by 4pm. Victor was the individual who worked in the Amp Treasury department. I've had him respond to my emails when I had questions - hopefully you can contact him. Do let us know how it works out.

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  #532 (permalink)
Prague, Czechia
 
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I think its solved, im on trip, i will check it and post it.

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  #533 (permalink)
New York City + NY/United States
 
 
Posts: 240 since Sep 2018
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Any updates on this? How did they respond?

I'm in the process of funding a new AMP account, and very interested in what happened.

slagzone View Post
I started trading live on Friday, June 26, 2020, with AMP futures. On their commission portal calculator, I was supposed to be charged .78 per trade per contract all in for the MES. I was charged $2.75 per trade per contract, Overcharged $1.97 per contract per trade. I got my daily report Friday at 11:59 pm. The daily report that I received stated, at the bottom of the page, that if I have any issues with the daily report statement to contact them before the beginning of the next trading session. Not exercising my right to have issues corrected before the start of the next session will be deemed acceptance of the daily report. I contacted customer support on Sunday, June 28, 2020, at 16:45, the earliest the office was opened. I also sent multiple emails Saturday and Sunday to the commissions clearing office.

I spoke to a customer service rep, he could not help me and advised me to reach out to the commission statement desk via email. I sent an email to the commission statement desk at 17:00 CST Jun 28, 2020. We will see how long it takes to get my money refunded.

Has anyone else had any issues like this and were they corrected and how long did it take?


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  #534 (permalink)
United States of America
 
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Scalpguy View Post
I don't remember where I read this number (it was an article somewhere in the cyber space) but if you think AMP is full of retail traders and average retail trader account size is for example 5k then their 66M segregated assets gives you something about that level. Several thousand accounts in anyway.

From what I can calculate, if the average retail trader with AMP has a 5K account then 66M divided by 5K would be around 13,200 accounts. That seems like a very large number of accounts for a small brokerage like AMP. Of course, there are most likely a lot of accounts bigger than 5K and also smaller than 5K.

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  #535 (permalink)
Helsinki, Finland
 
Experience: Advanced
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Trading: ES
 
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Dasani View Post
From what I can calculate, if the average retail trader with AMP has a 5K account then 66M divided by 5K would be around 13,200 accounts. That seems like a very large number of accounts for a small brokerage like AMP. Of course, there are most likely a lot of accounts bigger than 5K and also smaller than 5K.

You could be right or wrong. We are doing a guessing game here but I think it's more like thousands than hundreds in anyway.

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  #536 (permalink)
Andorra
 
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I cannot figure out if Eurex can be managed to be tradeable (order routing, not data) with the setup SierraChart + TT FIX + Denali. I’m being bounced back & forth on the question, whether yes or no, waiting for clarification. Anyone ?

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  #537 (permalink)
United States of America
 
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Scalpguy View Post
You could be right or wrong. We are doing a guessing game here but I think it's more like thousands than hundreds in anyway.

I agree. Either one of us could be wrong because all we are doing is playing a guessing game.

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  #538 (permalink)
Prague, Czechia
 
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planetkill View Post
Any updates on this? How did they respond?

I'm in the process of funding a new AMP account, and very interested in what happened.


Hi,

Everything is good now. AMP withdraw all money and give me some "gift" because of waiting, so I'm really happy with AMP + Optimus which helps me in this case.

We assume problem occurred because of their bank in US not AMP directly, so no problems with AMP in overall.
After first withdrawal I got confirmation that everything was ok and withdrawal is released, but after few days I got email from AMP that there was a problem with bank name. It was same bank from deposit come from and numbers were correct.

Going short.

NO PROBLEMS WITH AMP
. I withdraw all money + AMP was really helpful in this stressful situation.
Thanks

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  #539 (permalink)
London UK
 
 
Posts: 31 since Mar 2017
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Hello all,

I'm positing this here so that it might help anyone else searching for an answer about AMP accounts and Transferwise.

I live in New Zealand and wanted to know whether I could fund my AMP U.S. account (not a Global account) with USD via ACH using Transferwise.

The answer from AMP is 'yes', and you can also withdraw from your AMP U.S. account using ACH to Transferwise.

This means a few things for non-US residents who have a AMP U.S. account:
You can use Transferwise's very competitive exchange rates to convert your currency to USD before funding your AMP U.S. account
You can avoid your bank's wire fee by using ACH to fund
You don't need to pay US$30 for each wire withdrawal from AMP
You can use Transferwise's exchange rates to convert your withdrawals to your own currency before transferring to your personal bank account.

All in all, it means $$ saved!

Cheers


The above quote was taken from another AMP thread on this site..

Am confused how you can use Transferwise to send to AMP . On the AMP funding instructions page it says you can use Transferwise but AMP wire/ACH payment instructions need you to use "for further credit to..your account name...your account number" . However Transferwise specifically say you cant do "for further credit to" instructions when making payments to yourself/someone else ?

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  #540 (permalink)
Site Moderator
Sarasota FL
 
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Trading: ES, YM
 
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Etisan View Post
Hello all,

I'm positing this here so that it might help anyone else searching for an answer about AMP accounts and Transferwise.

I live in New Zealand and wanted to know whether I could fund my AMP U.S. account (not a Global account) with USD via ACH using Transferwise.

The answer from AMP is 'yes', and you can also withdraw from your AMP U.S. account using ACH to Transferwise.

This means a few things for non-US residents who have a AMP U.S. account:
You can use Transferwise's very competitive exchange rates to convert your currency to USD before funding your AMP U.S. account
You can avoid your bank's wire fee by using ACH to fund
You don't need to pay US$30 for each wire withdrawal from AMP
You can use Transferwise's exchange rates to convert your withdrawals to your own currency before transferring to your personal bank account.

All in all, it means $$ saved!

Cheers


The above quote was taken from another AMP thread on this site..

Am confused how you can use Transferwise to send to AMP . On the AMP funding instructions page it says you can use Transferwise but AMP wire/ACH payment instructions need you to use "for further credit to..your account name...your account number" . However Transferwise specifically say you cant do "for further credit to" instructions when making payments to yourself/someone else ?

Hi @Etisan,

Just as a technical note on using the forum, if you want to quote another member's post, even from another thread, you can go to the post and click the "Quote" button that is shown for every post. It will open the the Edit window, and insert their post into a new post in that thread (which I realize is not what you want in this case) for you to add to.

You can then simply copy the entire text, including the "Quote" and "/Quote" tags that are automatically inserted, and paste it into a new post in this thread, and add your comments here in this thread. The quoted material will show up in the current thread.

You probably already know about the Quote button, but this trick would let you quote a post from another thread and put the quoted material here.

With your post, I read it all the way almost to the end before I got to the line that said "The above quote was taken from another AMP thread on this site.." Up to that point, I thought that these were your own words and that you were reporting on your experience, which is not what you were intending to say at all. This would have made it clear.

I hope this is helpful in the future.

Bob.

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  #541 (permalink)
Russia, St.Petersburg
 
Experience: Advanced
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hi
a few days ago my account was blocked - Your logon is disabled. sent requests with questions about what happened, I was not answered within 5 days. it's good that I took the money to another place. would not recommend such customer service to anyone

requests 911256 and 911322 from compliance@ampclearing.com no answers

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  #542 (permalink)
Market Wizard
Montreal, Quebec
 
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Jonson View Post
hi
a few days ago my account was blocked - Your logon is disabled. sent requests with questions about what happened, I was not answered within 5 days. it's good that I took the money to another place. would not recommend such customer service to anyone

requests 911256 and 911322 from compliance@ampclearing.com no answers

I know a few people through AMP / CQG that recently had their logon disabled. It took 2 trading days to fix but there was no response as to the reason why.

If they are your broker, why are you emailing and not calling them directly? My broker is literally on speed dial and I call them for any little issue. I never rely on email.

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  #543 (permalink)
 
 
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Jonson View Post
hi
a few days ago my account was blocked - Your logon is disabled. sent requests with questions about what happened, I was not answered within 5 days. it's good that I took the money to another place. would not recommend such customer service to anyone

requests 911256 and 911322 from compliance@ampclearing.com no answers

Make sure you check the email you opened an account with. Notices are typically sent there. This is just as an FYI.

Thanks,
Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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  #544 (permalink)
san diego, ca USA
 
 
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Jonson View Post
hi
it's good that I took the money to another place. would not recommend such customer service to anyone

Wise choice.

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  #545 (permalink)
Eindhoven The Netherlands
 
Experience: Intermediate
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Trading: TF NQ YM 6E ES
 
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Question on per side costs at AMP as I consider to open an account with AMP.
Anyone has a real live experience with AMP and costs in the following environment:

Assume ES or YM or NQ, volume tiered < 1000 contracts. Using ChartDOM of Sierra chart package 3 to place orders to CME.

- “Sierra Chart – TT-W (FIX) - $20 per month (SC-Denali Exchange Data Feed)”
- CME Market Data (Bundle or CBOT, CME, COMEX, NYMEX) is to be enabled (EUREX market data is NOT available)
- Sierra Chart Package 3 (Free for AMP Direct Customers).

QUESTION: what is my per side cost for trading ES or YM or NQ using the ChartDOM of Sierra? The AMP cost calculator does not allow to select TT with Sierra.
AMP support does not know the answer and redirects me - so I get suspicious because a per side cost for e.g. ES on Sierra with denali/TT should not be rocket-science for a broker.

Any input from a current AMP/Sierra/Denali-TT/ChatDOM user is highly appreciated.
Regards,
Mike

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  #546 (permalink)
Eindhoven The Netherlands
 
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As a follow-up to my previous message (see here above) regarding costs at AMP.

I got informed that the round-trip costs for Sierra/TT/Denali/ChartDOM are the same as when using Sierra/CQG as per the AMP cost calculator.

I hope that this information might be of any help to others as well.

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  #547 (permalink)
Russia, St.Petersburg
 
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mattz View Post
Make sure you check the email you opened an account with. Notices are typically sent there. This is just as an FYI.

Thanks,
Matt Z
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no answer

* If investing gets too difficult for a seventh grader to understand, the system is needlessly complex
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  #548 (permalink)
Russia, St.Petersburg
 
Experience: Advanced
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Broker: NinjaTrader/CQG
Trading: Futures
 
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Posts: 246 since Jan 2011
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JonnyBoy View Post
I know a few people through AMP / CQG that recently had their logon disabled. It took 2 trading days to fix but there was no response as to the reason why.

If they are your broker, why are you emailing and not calling them directly? My broker is literally on speed dial and I call them for any little issue. I never rely on email.

my native language is Russian, and I could not explain to them what they need in colloquial speech

* If investing gets too difficult for a seventh grader to understand, the system is needlessly complex
* Markets produce an enormous volume of information, much of which is redundant
* In every game and con there's always an opponent, and there's always a victim. The trick is to know when you're the latter, so you can become the former
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  #549 (permalink)
sofia
 
Experience: Beginner
Platform: few
Trading: es,oil
 
Posts: 10 since Jul 2011
Thanks: 3 given, 1 received

Hey
What is - in general - the response time for an online application to open a futures account ?
I applied with them 10 days ago and nothing
Thanks

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  #550 (permalink)
 
 
mattz's Avatar
 
Posts: 2,487 since Sep 2010
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Jonson View Post
no answer

The process of not enabling an account or not approving one is not random.
Compliance has its guidelines that it follows and, and if something altered them to any suspicious, they act on it.
They do send notices when accounts are not approved, but it does not mean they can always share.
Sadly, if all their procedures are transparent, some unscrupulous clients may take advantage of that.

From our personal experience, AMP does approve many accounts daily.

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email support@OptimusFutures.com
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  #551 (permalink)
Russia, St.Petersburg
 
Experience: Advanced
Platform: NinjaTrader, CQG Desktop
Broker: NinjaTrader/CQG
Trading: Futures
 
Jonson's Avatar
 
Posts: 246 since Jan 2011
Thanks: 212 given, 115 received

after almost 2 months they answered me, woow, they probably went to this forum and saw the complaint:
Your account was disabled due to triggering a compliance alert.
Unfortunately, we are unable to disclose internal compliance checks...but as you have experienced, there was NO delay in your funds being withdrawal back to you.

There is no further details that can be provided. Thank you for your understanding.

ps: There is only one conclusion - we will not say anything and we do not care about your problems.
thanks - all that is needed, I already understood everything

* If investing gets too difficult for a seventh grader to understand, the system is needlessly complex
* Markets produce an enormous volume of information, much of which is redundant
* In every game and con there's always an opponent, and there's always a victim. The trick is to know when you're the latter, so you can become the former
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  #552 (permalink)
Philadelphia PA
 
Experience: Advanced
Platform: Multicharts
Broker: Ironbeam, Rithmic
Trading: Emini ES / NQ
 
syswizard's Avatar
 
Posts: 86 since Jan 2019
Thanks: 9 given, 61 received

Well guys, I have nothing good to say about AMP. I applied to them over 3 weeks ago as a corporate account as I already have a corporate account with Interactive Brokers. However, their margins recently have gotten ridiculous for the E-Minis....so I needed to move.
AMP new accounts had me sending them dozens of pages of declarations and corporate documentation.
They lost the verification documents, so I had to complete them twice.
Here's what they sent me today: what a cruel and cold organization....anyone have alternative recommendations ?
------------------------------------------------------------------------------------------------------------------------------------------------------------
AMP | Tracey (AMP Global (USA))

Oct 19, 2020, 11:43 AM CDT

Dear Mark,

After performing our review carefully, we regrettably cannot continue with the account review process for your application. Your application will be declined.

We hope you understand that we do not comment our decision and regret that we cannot give you any other positive message.

Thank you for your interest in AMP Global Clearing, LLC
Compliance Team

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  #553 (permalink)
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,358 since Jan 2013
Thanks: 48,487 given, 21,307 received


syswizard View Post
Here's what they sent me today: what a cruel and cold organization....

That is cold. Even if they are going to say no, this is an amazingly brusque way of saying so, and of giving no hint of a reason.

Why go out of their way to be offensive? It's hard to understand the point, no matter what their reasons are.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #554 (permalink)
Philadelphia PA
 
Experience: Advanced
Platform: Multicharts
Broker: Ironbeam, Rithmic
Trading: Emini ES / NQ
 
syswizard's Avatar
 
Posts: 86 since Jan 2019
Thanks: 9 given, 61 received


bobwest View Post
That is cold. Even if they are going to say no, this is an amazingly brusque way of saying so, and of giving no hint of a reason.
Why go out of their way to be offensive? It's hard to understand the point, no matter what their reasons are.
Bob.

Exactly Bob, but remember: Compliance = Lawyers.....and I have not had a great experience with <any> lawyer in my lifetime....except for friends who are lawyers.

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  #555 (permalink)
Albuquerque, NM, USA
 
 
Posts: 84 since Jul 2012
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westmalle View Post
Question on per side costs at AMP as I consider to open an account with AMP.
Anyone has a real live experience with AMP and costs in the following environment:

Assume ES or YM or NQ, volume tiered < 1000 contracts. Using ChartDOM of Sierra chart package 3 to place orders to CME.

- “Sierra Chart – TT-W (FIX) - $20 per month (SC-Denali Exchange Data Feed)”
- CME Market Data (Bundle or CBOT, CME, COMEX, NYMEX) is to be enabled (EUREX market data is NOT available)
- Sierra Chart Package 3 (Free for AMP Direct Customers).

QUESTION: what is my per side cost for trading ES or YM or NQ using the ChartDOM of Sierra? The AMP cost calculator does not allow to select TT with Sierra.
AMP support does not know the answer and redirects me - so I get suspicious because a per side cost for e.g. ES on Sierra with denali/TT should not be rocket-science for a broker.

Any input from a current AMP/Sierra/Denali-TT/ChatDOM user is highly appreciated.
Regards,
Mike

$20/month for Denali/TTRouting
$10/Month CME Exchange Fee

Per-side cost is the same as CQG, so select that in their all-in cost calculator.

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  #556 (permalink)
 
 
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Posts: 2,487 since Sep 2010
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bobwest View Post
That is cold. Even if they are going to say no, this is an amazingly brusque way of saying so, and of giving no hint of a reason.

Why go out of their way to be offensive? It's hard to understand the point, no matter what their reasons are.

Bob.

I don't think the response was cold, offensive, or inappropriate. Compliance wants to keep it short and sweet, and they did say that they "regret".
Bob, if someone is rejected is for a reason, it is not random. There are all kinds of people applying and at times their backgrounds, goals, financials, etc. may not match a firm's desired customers. AMP approves customers daily for us, and if someone is rejected, I just trust their choice, and I direct the customer to other FCMS that may be a better match (if appropriate).

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email support@OptimusFutures.com
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  #557 (permalink)
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,358 since Jan 2013
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mattz View Post
I don't think the response was cold, offensive, or inappropriate. Compliance wants to keep it short and sweet, and they did say that they "regret".
Bob, if someone is rejected is for a reason, it is not random. There are all kinds of people applying and at times their backgrounds, goals, financials, etc. may not match a firm's desired customers. AMP approves customers daily for us, and if someone is rejected, I just trust their choice, and I direct the customer to other FCMS that may be a better match (if appropriate).

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Matt, I don't doubt that they had their reasons, and they do have an absolute right to accept or reject anyone they want to. I am not saying there is anything wrong with the decision they made, and of course I don't know what the basis was for the decision, and it is not something for me to approve of or not in any case. I also don't have anything against AMP and I know they have satisfied customers who stay with them. I assume those customers have reasons to, just as I assume AMP makes business decisions based on what they regard as good business practices, and I have no reason to think otherwise.

My problem is with the phrasing, not with whether they said yes or no. It did not need to be as abrupt as it was, at least to my reading of it. You can let someone down more easily than that.

I know you work with them and have a good relationship, no doubt also for good reasons. But someone ought to re-write their rejection letter, that's all.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #558 (permalink)
Melbourne
 
Experience: Beginner
Platform: Motivewave
Broker: AMP
Trading: NQ, ES
 
Posts: 6 since Aug 2020
Thanks: 6 given, 3 received

How does everyone manage to get custom statements apart from the daily ones? AMP doesn't seem to offer other types.

I'm trying to scrape together all my trades for the last year (for tax) and there doesn't seem to be an easy way to get this report. Motivewave told me CQG limits historical trade data to 48 hours.

Big difference from Tradovate where all your data is available in the platform whenever you want.

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  #559 (permalink)
Slovakia
 
Experience: Intermediate
Platform: Ninjatrader 8
Broker: Interactive Brokers
Trading: K200M,KOSDQ150
 
Posts: 208 since Aug 2009
Thanks: 81 given, 104 received

Use monthly report, There is column Realized Profit/Loss
creamyyy View Post
How does everyone manage to get custom statements apart from the daily ones? AMP doesn't seem to offer other types.

I'm trying to scrape together all my trades for the last year (for tax) and there doesn't seem to be an easy way to get this report. Motivewave told me CQG limits historical trade data to 48 hours.

Big difference from Tradovate where all your data is available in the platform whenever you want.

Sent using the futures.io mobile app

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  #560 (permalink)
Minneapolis Minnesota
 
Experience: Advanced
Platform: Tradestation, Multicharts
Broker: Tradestation, Interactive Brokers
Trading: ES NQ FDAX
 
WilliamJames's Avatar
 
Posts: 1 since Jan 2014
Thanks: 7 given, 0 received

I am doing some due diligence on ways to trade index futures outside of the US.

My Interactive Broker account is fine but for the very high margin requirements per contract. A little study shows AMP has much more reasonable margin requirements. However, reading through this thread motivates me to at least consider other solutions.

Are there other alternatives to trading global index futures besides IB and AMP, and what are the pros and cons?

Thanks!

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  #561 (permalink)
W.Coast, USA.
 
Experience: Intermediate
Platform: Anything
Trading: Emini
 
Posts: 77 since Jul 2017
Thanks: 16 given, 50 received

Can someone explain what this is about?

Cybersecurity Incident - more than 3.2 Billion usernames, passwords and email addresses - Leaked

https://support.ampglobal.com/hc/en-us/articles/1500002750682-Cybersecurity-Incident-more-than-3-2-Billion-usernames-passwords-and-email-addresses-Leaked

Is AMP just taking precautions or were they impacted?

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  #562 (permalink)
Melbourne, Australia
 
Experience: Advanced
Platform: SC, TradingView
Broker: CQG/AMP, IB
Trading: SPI, EMD, CL, ZS
 
Posts: 48 since Oct 2013
Thanks: 12 given, 61 received


Arch View Post
Can someone explain what this is about?

Cybersecurity Incident - more than 3.2 Billion usernames, passwords and email addresses - Leaked

https://support.ampglobal.com/hc/en-us/articles/1500002750682-Cybersecurity-Incident-more-than-3-2-Billion-usernames-passwords-and-email-addresses-Leaked

Is AMP just taking precautions or were they impacted?

I got this email today plus another one with a password reset.

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